12. Contents of the Mid-Year Fiscal Position Report

Official English translation. Where it differs from the Sinhala or Tamil text, the Act itself says which text prevails.

The Mid-Year Fiscal Position Report in respect of a financial year shall contain—

(a)

a statement of the estimated and actual expenditure for the first four months of that year ;

(b)

a statement of the estimated and actual revenue for the first four months of that year ;

(c)

a statement of the estimated and actual cash flows for the first four months of that year ;

(d)

a statement of the estimated and actual borrowings for the first four months of that year ;

and

(e)

such other statements which may be necessary to reflect fairly, the financial position of the

Government, in respect of the first four months of such financial year.

(2)

Where there is a shortfall in the estimated revenue or cash flow, or an excess in the estimated expenditure or borrowings, the mid year fiscal position Report shall state the reasons for such shortfall.

(3)

Subject to the provisions of subsection (4), the information contained in the Mid-Year Fiscal Position Report shall take into account, as far as possible, all government decisions and all other circumstances that may have a material effect on the fiscal position (including decisions taken and circumstance that exist, after the passing of the Appropriation

Act for that year).

Fiscal Management (Responsibility)

(4)

Nothing contained in this section shall be read and construed as requiring the inclusion in the Mid-Year Fiscal

Position Report, the disclosure of any information, which in the written opinion of the Minister, will—

(a)

be prejudicial to national security ;

(b)

compromise Sri Lanka in a material way, in negotiation, litigation or commercial activity.

(5)

Where any information on any matter required to be included in a Mid-Year Fiscal Position Report remains unchanged from the information in relation to such matter as is included in the last Budget Economic and Fiscal Position

Report, the Mid-Year Fiscal Position Report shall state that such information remains so unchanged.

Read on from s 13